Solana adds 600k active addresses in a month; What’s next for SOL?
Solana (SOL) was one of the best-performing cryptocurrencies in 2023, surging by 920% in the year. Part of this was due to an increased network activity, bringing more value to the ecosystem and more demand for its native token. In particular, the Solana network has seen an increase of approximately 600,000 more active addresses in a month . Daily active addresses went from 382,700 on November 21 to a yearly high of 981,380 on December 21. Current address activity is still above a 1-year average, according to The Block ’s chart, with data from Hellomoon . Currently, 625,160 Solana addresses are actively used in a 7-day moving average. Number of active addresses on the Solana network (Daily, 7DMA). Source: The Block Solana increased active demand and price analysis for SOL The number of active addresses is one metric that evidences the increased activity for Solana’s network. However, it is not the only one. During 2023, Solana also saw a surge in its DeFi ecosystem, joining...